A composite material includes a first phase which comprises Li.sub.xM.sub.y(PO.sub.4).sub.z wherein M is at least one metal, y and z are independently 0, and x is less than or equal to 1. The material includes a second phase which has an electronic and/or lithium ion conductivity greater than that of the first phase. The material is prepared by heating a starting mixture which includes lithium, iron, a phosphate ion, and a catalyst in a reducing atmosphere. Also disclosed are electrodes which incorporate the material and batteries which utilize those electrodes as cathodes.